Flex Space with
New
For Sale
$3,900,000
1748 NW 36th St, Miami, FL 33142
Retail and warehouse configuration with existing mezzanine space and owner storage use.
Property Size19,565 SF
Price / SF$240
Days on Market6
Property Features for 1748 NW 36th St
General Information
Standard status
Active
Size
19,565 SF
Property subtype
Commercial
Property Condition
Severity
Repairs Needed
Evidence
needs some TLC
Additional Details
Opportunity Zone
Yes
Building Details
Building Size
19,565 SF
Year Built
1969
Listing Agency:
(305) 989-3200
Listed By:
Phillip Delgado · License #3058962
(305) 989-3200
Source:
Elliman
Added: Aug 18
Changed: Aug 23
Last Checked: Aug 23 at 8:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Phillip Delgado
Investment Insights
Based on property information with market context.
This 16,250-square-foot flex property combines retail and warehouse areas with more than 3,000 square feet of mezzanine space. The building is currently used by the owner for storage and requires improvements, offering a functional base for a range of commercial operations.
Constructed in 1969, the property is located at 1748 NW 36th St in Miami’s Buena Vista Corridor and falls within an Opportunity Zone. WalkScore is 68, BikeScore is 53, and TransitScore is 60, reflecting a somewhat walkable, bikeable setting with good transit access.
Constructed in 1969, the property is located at 1748 NW 36th St in Miami’s Buena Vista Corridor and falls within an Opportunity Zone. WalkScore is 68, BikeScore is 53, and TransitScore is 60, reflecting a somewhat walkable, bikeable setting with good transit access.
Key Highlights
- 16,250‑square‑foot flex property at 1748 NW 36th St, Miami, FL 33142
- Over 3,000 sq ft of mezzanine space
- Retail and warehouse areas within the building
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$265,094
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.80%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,301,880
$5.3M
Cap Rate 7%
$3,787,057
$3.8M
Cap Rate 9%
$2,945,489
$2.9M
Market Conditions
NOI Build-Up for 16,250 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$327.6K $20.16/SF
− Vacancy
−$15.7K −$0.97/SF
EGI
$311.9K $19.19/SF
− OpEx
−$46.8K −$2.88/SF
NOI
$265.1K $16.31/SF
Area
Miami, FL
Vacancy
4.80%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,301,880
Cap Rate 7%
$3,787,057
Cap Rate 9%
$2,945,489
Alternative Uses
Best Use
Retail
$7.57M
$6.63M – $8.84M
NOI $530,167 @ 7.0% cap · market cap 13.59%
Second Best
Warehouse
$3.79M
$3.31M – $4.42M
NOI $265,094 @ 7.0% cap · market cap 6.80%
Theoretical Best
Specialty Retail
$10.97M
$9.60M – $12.80M
NOI $767,820 @ 7.0% cap · market cap 19.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,610
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33142, FL
55,425
Population
22,275
Households
2.5
Avg Household Size
39
Median Age
13%
College-Educated
69%
High-School Grad
10.9 sq mi
ZIP Area
5,085
Density / Sq Mi
$37,900
Median Household Income
$29,109
Median Earnings
$1,289
Median Rent
$298,000
Median Home Value
Market
Vacancy Rate% for Industrial in Miami, FL
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Retail and warehouse configuration with existing mezzanine space and owner storage use.
Where is this flex space located?
The property is located at 1748 NW 36th St Miami, FL.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: 16,250‑square‑foot flex property at 1748 NW 36th St, Miami, FL 33142; Over 3,000 sq ft of mezzanine space; Retail and warehouse areas within the building
